New lending will have to be fully asset-backed with true provenance and transparency in the flow of goods and monies

After handling Gem & Jewellery (G&J) industry financing as a banker for many years, Erik A Jens sees an opportunity now that numerous banks are withdrawing from the sector. He is exploring opportunities to establishing a financing firm focusing...

Today

The majority of women don’t care whether their diamonds are mined or lab grown - Alex Popov, CEO of Âme

Alex Popov, President of the Moscow Diamond Bourse and former Chairman of the World Diamond Mark Foundation (WDMF) launched a new jewelry brand under the name of Âme focused on design and using lab grown diamonds to produce jewelry meant to meet...

14 january 2019

At IDE, we encourage innovation throughout the bourse and have even opened a technological incubator to host start-ups - Yoram Dvash

A first generation diamantaire, Yoram Dvash founded ‘Y Dvash Diamonds Ltd’ in 1991 in Israel. While the company grew and made progress under his leadership, Dvash joined industry organizations such as the Israel Diamond Manufacturers Association (IsDMA)...

09 january 2019

Cooperation and collaboration are the development trend of today

Pavel Grankin runs the Slava Group of companies and holds the Slava trademark (‘Slava’ means ‘Glory’ in Russian). He has graduated from the Mozhaisky Military Space Academy. He did his military service at the Plesetsk Сosmodrome from 1987 to...

04 january 2019

De Beers speaks on Zim invitation to explore for diamonds again

De Beers’ exploration team landed in Zimbabwe in 1993 and left in 2006, however, they first prospected for diamonds in Marange in the late 1990s. Harare, under the leadership of the then president Robert Mugabe, alleged that De Beers looted diamonds...

24 december 2018

Lucapa commences commercial diamond mining at Mothae

05 december 2018
news_02072018_lucapa.pngLucapa Diamond said it has commenced commercial diamond recoveries through the new treatment plant at its 70 percent-owned Mothae kimberlite diamond mine in Lesotho.
The plant would be gradually ramped up to its 1.1Mtpa nameplate capacity following the implementation of a second plant operating shift.
“Lucapa is on track to become one of a few listed diamond companies globally with production from more than one operating mine,” said Lucapa managing director Stephen Wetherall.
“The high-quality nature of this production from Lulo and Mothae will also enable the group to further its value-enhancing downstream strategy through partnerships with global diamantaires, where discussions are well advanced.”
Lucapa owns a 40 percent stake in the Lulo mine in Angola.
The new Mothae plant incorporates advanced diamond recovery technology, including two XRT diamond recovery modules designed to recover large and rare Type IIa diamonds ahead of the secondary crushing circuit, thus reducing potential diamond breakage and improving the recovery of unbroken large stones.
More than 4,100 carats of diamonds had been recovered from the bulk sampling of areas within the Mothae kimberlite pipe which had not previously been or had been inadequately tested during the previous trial mining phase.
The first parcel of about 2,500 of the Mothae bulk sampling diamonds were exported to Antwerp last September.
Lucapa previously said it was targeting to produce about 44,000 carats of diamonds at Mothae over the first three years of commercial recoveries.
An independent JORC resource estimate for Mothae was 1 million carats of diamonds at a modelled average diamond value of $1 063/carat – the second highest JORC average price per carat in the world.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished